All Forum Posts by: Max Shyshnyak
Max Shyshnyak has started 2 posts and replied 2 times.
Post: Managing rentals remotely - is a local property manager a must?
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We're considering a rental investment into a remote market (SFRs and small multi).
It feels like hiring a property management company is a must since traveling there for each need isn't practical.
Are there ways to manage successfully remotely yourself remotely? We'd love to hear about others' experiences.
Thank you in advance.
Post: Duplex can be a great way to start in RE investing
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Investment Info:
Small multi-family (2-4 units) buy & hold investment in Wake Forest.
Purchase price: $99,000
Cash invested: $20,000
Our first rental investment. It's done well in both cashflow and appreciation through ups and downs with tenants. Big decision now: refi and hold or sell.
What made you interested in investing in this type of deal?
Low price (for our area), good rent/value ratio, multi-family (at times when one side is vacant, the other covers costs).
How did you find this deal and how did you negotiate it?
I found a RE agent who specialized in investment RE. The property needed TLC so we leveraged this fact to get it under asking.
How did you finance this deal?
Savings
How did you add value to the deal?
Cosmetic remodel+rasied rents
What was the outcome?
Appreciation and rent growth above market average
Lessons learned? Challenges?
Challenges: many applicants but few solid candidates. Lessons learned: a responsive plumbing company is very important.